Since the end of 2012, the bears have been pathetically weak on every timeframe over hourly. It looked like they might have recovered some mojo on Thursday, but the strong rejection of those lows on Friday, with the close back over both the daily middle band and the 50 hour MA, killed off that impression fairly effectively. While SPX is making lower highs the bears aren’t entirely out of the game, but unless we see the 1952 low taken out, it seems a reasonable assumption that SPX is just consolidating in a range before the next move up. (more…)
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
This weekend, I’ve put together charts of stocks I feel are almost ripe for shorting but are not positions in my portfolio yet. I confess that if Friday had shown general weakness, I probably would have cheerfully shorted every single one of them, but the ungodly annoying recovery on Friday made me hesitant (and too nauseated) to get more aggressive. I suspect I’ll get into most or all of the charts I’m sharing this weekend during trading next week. (more…)